C&W picked as exclusive agent for 52,500-m[sup]2[/sup] Volgograd scheme

Cushman & Wakefield (C&W) has been appointed exclusive agent for VolgogradCity, the first Class-A business centre in the Russian industrial city of Volgograd.

The 53,500-m² business complex was delivered by developer and investor CityZenter in April as part of a larger development project including residential, retail, a hotel and social infrastructure. The project was financed by Moskovskiy Industrial Bank.

The new project is expected to benefit from a lack of quality office supply in the west Russian city. According to C&W research, no new office buildings have been opened in the city for the past two years.

'More international companies are considering opening branches in the large regional centres of Russia and VolgogradCity is one of the leading office projects in the Russian region for 2011-2012,' said Elena Stryukova of C&W's regional project department.